Highlights
New loans
- Sale settlements with a new loan in Oct-22 were down 5.2% on Sep-22, and down 21.6% on Oct-21.
Refinances
- Refinance settlements were down 6.2% on Sep-22, and 13.8% higher YoY.
Trends
- Major banks continued to gain in refinances in vs non-major banks, taking them into a net-positive position while non-majors fell into a net-negative position for the first time in over a year.
NOTE: Loan figures quoted include all residential and commercial settlements unless otherwise stated. Any non-monetary settlements such as family transfers or gifts have been excluded.
New loans
Total
Oct-22 was down 5.2% on Sep-22, and down 21.6% on Oct-21.
Residential/commercial
- Residential new loans were down 4.9% MoM, and down 21.9% YoY.
- Commercial new loans were down 10.9% MoM and down 14.7% YoY.
Greater Brisbane/rest of QLD
- Greater Brisbane Area new loans were down 7.0% MoM in Oct-22, a 22.0% decline YoY.
- Rest of QLD was down 3.3% MoM and 21.2% decline YoY.
Refinances
- Oct-22 was down 6.2% on Sep-22, and 13.8% higher YoY.
Wins & losses
New loans
- Both major banks and non-major banks grew their wins in new loans in October. Major banks’ wins grew more sharply than those of non-major banks.
Tip: Wins / losses (new loans) shows the net increase or decrease in mortgages each month for lenders. The calculation takes the total number of new mortgages and subtracts the total number of discharged mortgages for properties that settled in that month. Importantly, it only includes property sale settlements (not refinances) and excludes properties not part of a sale (e.g. if the loan is completely repaid and the mortgage is discharged). ‘Major banks’ include their sub brands and subsidiaries.
Refinances
- Major banks continued to gain in refinances in vs non-major banks, taking them into a net-positive position while non-majors fell into a net-negative position for the first time in over a year.
Tip: Wins / losses (refinances) shows the net increase or decrease in mortgages each month for lenders. The calculation takes the total number of new refinances and subtracts the total number of discharged mortgages for properties that have refinanced in that month. It only includes property refinance settlements (not sale settlements) and excludes properties not part of a refinance (e.g. if the loan is completely repaid and the mortgage is discharged). ‘Major banks’ include their sub brands and subsidiaries.
